ShippingWatch

Western Bulk: Improvement will be gradual and cautious

Even though dry bulk performed slightly better at Western Bulk in the second quarter, a stable market is still a long way off, CEO Jens Ismar tells ShippingWatch.

CEO of Norwegian carrier Western Bulk, Jens Ismar, is not holding any punches in his analysis of the dry bulk market after the carrier published its second quarter interim report last week.

"It hasn't been as bad in the past 30 years as it's been these past six months," he tells ShippingWatch, thus echoing the sad reports issued by several of Western Bulk's competitors.

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Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

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